Here are the key factors to keep in mind today for British Pound trades:

• UK CPI: The UK CPI for July is predicted flat at 0.0% monthly and to increase by 2.5% annualized. Forex traders can compare this to the UK CPI for June which was reported flat at 0.0% monthly and which increased by 2.4% annualized. The Core CPI for July is predicted to increase by 1.9% annualized. Forex traders can compare this to Core CPI for June which increased by 1.9% annualized.
• UK PPI: The UK PPI Input for July is predicted to increase by 0.1% monthly and by 10.3% annualized. Forex traders can compare this to the UK PPI Input for June which increased by 0.2% monthly and by 10.2% annualized. The UK PPI Output for July is predicted to increase by 0.2% monthly and by 3.0% annualized. Forex traders can compare this to the UK PPI Output for June which increased by 0.1% monthly and by 3.1% annualized. The UK PPI Core Output for July is predicted to increase by 0.2% monthly and by 2.1% annualized. Forex traders can compare this to the UK PPI Core Output for June which increased by 0.2% monthly and by 2.1% annualized.
• UK RPI: The UK RPI for July is predicted to increase by 0.2% monthly and by 3.4% annualized. Forex traders can compare this to the UK RPI for June which increased by 0.3% monthly and by 3.4% annualized. The UK RPI Excluding Mortgage Interest Payments for July is predicted to increase by 3.5% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for June which increased by 3.4% annualized.
• UK House Price Index: The UK House Price Index for June is predicted to increase by 2.6% annualized. Forex traders can compare this to the UK House Price Index for May which increased by 3.0% annualized.

Here are the key factors to keep in mind today for US Dollar trades:

• US Empire Manufacturing Index: The US Empire Manufacturing Index for August is predicted at 20.0. Forex traders can compare this to the US Empire Manufacturing Index for July which was reported at 22.6.
• US Non-Farm Productivity and Unit Labor Costs: Preliminary US Non-Farm Productivity for the second-quarter is predicted to increase by 2.4% quarterly and Unit Labor Costs are predicted to increase by 0.2% quarterly. Forex traders can compare this to US Non-Farm Productivity for the first-quarter which increased by 0.4% quarterly and to Unit Labor Costs which increased by 2.9% quarterly.
• US Advanced Retail Sales: US Advanced Retail Sales for July are predicted to increase by 0.1% monthly and Retail Sales Less Autos are predicted to increase by 0.3% monthly. Forex traders can compare this to US Advanced Retail Sales for June which increased by 0.5% monthly and to Retail Sales Less Autos which increased by 0.4% monthly. Retail Sales Less Autos and Gas for July are predicted to increase by 0.4% monthly and Retail Sales Control Group are predicted to increase by 0.4% monthly. Forex traders can compare this to Retail Sales Less Autos and Gas for June which increased by 0.3% monthly and to Retail Sales Control Group which were reported flat at 0.0% monthly.
• US Industrial Production and Manufacturing Production: US Industrial Production for July is predicted to increase by 0.3% monthly and Manufacturing Production is predicted to increase by 0.3% monthly. Forex traders can compare this to US Industrial Production for June which increased by 0.6% monthly and to Manufacturing Production which increased by 0.8% monthly.Capacity Utilization for July is predicted at 78.2%. Forex traders can compare this to Capacity Utilization for June which was reported at 78.0%.
• US Business Inventories: US Business Inventories for June are predicted to increase by 0.1% monthly. Forex traders can compare this to US Business Inventories for May which increased by 0.4% monthly.
• US NAHB Housing Market Index: The US NAHB Housing Market Index for August is predicted at 67. Forex traders can compare this to the US NAHB Housing Market Index for July which was reported at 68.

Should price action for the GBPUSD remain inside the or breakout above the 1.2690 to 1.2790 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.2730
• Take Profit Zone: 1.3455 – 1.3585
• Stop Loss Level: 1.2590

Should price action for the GBPUSD breakdown below 1.2690 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.2665
• Take Profit Zone: 1.2360 – 1.2390
• Stop Loss Level: 1.2730

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.